Chapter 6: Kraak Porcelain (Part 1)

That evening, the three time travelers held their first post-mission debriefing. Wen Desi insisted on formal meeting procedures, complete with minutes. “We are making history,” he declared.

They dissected the mission, cataloging their mistakes. The consensus was clear: they had underestimated the intelligence of the ancients, done insufficient research, and relied too heavily on assumptions.

Still, they had been lucky. They had, against all odds, found a suitable local agent.

The next trade plan, though less lucrative than they had hoped, was still profitable.

One tael of silver in the late Ming Dynasty was roughly 37.3 grams. Silver in their time was trading at about 3 yuan per gram. So, one tael of silver was worth about 112 RMB. In reality, the silver circulating in the Ming Dynasty was often of low purity and had to be re-melted, which would further cut into their profits.

But a powder box sold for ten taels, or about 1000 yuan. Xiao Zishan had brought over 200 of them. That single item could bring in two thousand taels of silver, or two hundred thousand yuan. The wholesale price of the powder boxes was negligible.

“We can do another round of arbitrage,” Xiao Zishan said, scribbling calculations on a piece of paper. “The gold-to-silver ratio in the late Ming was about one to ten. With two thousand taels of silver, we can exchange it for two hundred taels of gold. That’s 7460 grams. At 150 yuan per gram, that’s over a million yuan. It’s more profitable than selling the goods.”

“But the supply of gold is limited,” [Wang Luobin][y003] lamented. “We won’t be able to exchange much.”

“We can ask for something even more valuable than gold,” Wen Desi said.

“What?”

“Porcelain.” He pointed to a Christie’s auction announcement in a newspaper. “Ming Dynasty porcelain. Need I say more?”

When the pale-faced servant ran to the study, Master Gao knew the Australians had returned. It was late, and just like before, they had materialized out of thin air in his warehouse yard.

If they hadn’t arrived and departed in broad daylight the first time, he would have suspected them of being ghosts.

“Master Gao, these are the goods.”

Under the eaves of the study, four or five cardboard boxes sat, moved from the warehouse by his servants. It was the first time he’d seen paper used for shipping containers, and his heart pounded. A few days ago, he’d secretly sprinkled chicken blood on the samples they’d left. The next day, the items were unchanged, not transformed into clay puppets as he’d feared. Only then had he been able to relax.

“Manager Yan, count and make a list,” Master Gao ordered.

“Yes, master.”

The manager and his servants opened the boxes. Each item was nestled in its own exquisite paper box, neatly stacked. Master Gao nodded. These Australians were extravagant. The packaging alone must have cost a fortune.

The three men sat, watching the servants work. In the dim candlelight, Master Gao’s Nanjing satin robe shimmered. Xiao Zishan had an unsettling thought of burial clothes, and a shiver ran down his spine.

Fortunately, they had brought a special gift. After the count was confirmed, Wen Desi opened a box and produced a kerosene lamp. It had cost them 120 yuan at a craft store, the most expensive of all their trade goods. He filled it with kerosene from a can and lit it with a nearby candle. The flame grew, and the dim study was suddenly bathed in a bright, steady light.

Master Gao and his servants were speechless. Of all the strange and wonderful things the Australians had brought, nothing had impressed them as much as this.

“A kerosene lamp,” Wen Desi said. “A small token of our appreciation.”

“A marvelous object!” Master Gao stepped closer. A ball of white flame, dazzlingly bright, enclosed in a transparent glass shade. “Is this made in your esteemed country?” he asked, his voice filled with awe. “What is its value?”

Xiao Zishan marveled at humanity’s primal desire for light. The trinkets they’d thought would astound the ancients had barely caused a stir. But this obsolete kerosene lamp had shaken them to their core, simply because it was brighter than any candle or oil lamp. What would they think of an electric light? His confidence in their grand plan surged.

“It is indeed from our country,” Wen Desi said, a sly, merchant’s smile playing on his lips. “Two hundred taels.”

“Marvelous, marvelous!” Master Gao circled the lamp, his eyes wide with wonder. He mimicked Wen Desi’s action of turning the knob, watching the flame brighten and dim at his command. He was amazed. The skilled craftsmen of Australia, he thought, must be reincarnations of Lu Ban.

A thought struck him. “The oil this lamp uses… kerosene, is it also from Australia?”

Xiao Zishan nodded. Master Gao was a sharp one.

“Indeed.”

“And the price of the oil?”

“Ten taels a bottle.” A bottle was one liter. They had no plans for a large-scale kerosene trade, so a high price was acceptable for now.

“The lamp is a fine thing,” Master Gao said, a look of regret on his face, “but the oil…”

“A bottle of oil can burn for more than twenty hours. A month’s supply would only cost ten or twenty taels. It’s not so expensive.”

“If the oil were cheaper, I could sell many of these lamps…”

Xiao Zishan just smiled, refusing to take the bait. Master Gao knew he wouldn’t budge. Still, the free lamp and twelve bottles of kerosene were a significant prize. He wondered if it would work with vegetable oil. He would try it tomorrow.

Xiao Zishan then demonstrated how to assemble, disassemble, and maintain the lamp. Master Gao had a young servant watch and practice until he could do it perfectly. Then, they calculated the payment.

The total came to over three thousand taels of silver. [Xiao Zishan][y0s01] requested that one thousand and five taels be converted to gold. Master Gao shook his head. He had no way to exchange for gold at this hour, and only had fifty or sixty taels on hand. In the end, they settled for sixty taels of gold, in exchange for six hundred taels of silver.

Xiao Zishan then proposed to buy porcelain. This did not surprise Master Gao; all overseas merchants loved porcelain. His warehouse was full of it. He ordered his servants to bring out a few baskets of export-grade porcelain.

Xiao Zishan, relying on the knowledge he’d crammed from a few books, recognized it as Kraak porcelain, a representative style of late Ming export ware.

How much would this be worth in his time? An ordinary plate would fetch several thousand RMB. In 2005, a collection of 214 pieces of Kraak porcelain, salvaged from two shipwrecks, had been auctioned for 2.727 million yuan. One plate alone had sold for 55,000 yuan.

And now, several large baskets of brand-new Kraak porcelain sat before them.

They bought the entire lot for less than twenty taels of silver. Both sides felt they had gotten a fantastic deal.

Before they left, Wen Desi left two hundred taels of silver and asked Master Gao to purchase a house for them nearby, to serve as their base of operations. Master Gao readily agreed.

After the Australians had vanished, Master Gao sat alone in his study, lost in thought. He even sent away the concubine who had come to fetch him. Buying a house was a simple matter, but the mystery of these men still troubled him. He paced for a while, then summoned his manager. He ordered that the matter of the Australian sea merchants be kept secret. He also demanded a list of every servant, page, and maid who knew of their existence. If word leaked, there would be a swift and severe punishment.

[Note: The knowledge about Kraak porcelain comes from Mr. Ma Weidu’s book.]